We know nobody can predict sensex /nifty for sure, at best one can only guess.
This month end many traders are poorer and wiser to respect the market force. The force was there and was visible to everybody. Till now no emerging market can ignore North American consumers and the policies framed there.
The small investors utilized the correction on Friday and bought some stocks at lower rate.
But the savage market correction yesterday put some shiver down the spine of us. Market can be so ruthless!!
Now nobody is sure if the market reached bottom. Every pundits with their "Market Patrika"s in hand are confused and contradicting himself in every next sentences.
What about the "stock specific formula" the pundits advocated, may be worth a trying now. But doubts are in mind does a market slide down spares the "good stocks". Probably not, yesterday was a eye opener. But still good stocks are better bet than others.
The most discussed among the lot is Reliance Industries; it has the potential to see new highs at every rally. (My target is INR 2000 plus)
The second one right now is Reliance Energy, it is a different story after the Sesan episode. (My target is about INR 900)
The present star among engineering companies are L&T and BHEL, steam are still there. (My short term target is 20% up form the present level)
Can one ignore Educomp Solutions? The stock is going up with recent news. (My target is INR 2900 in medium term.)
Forget the IT and Bank stocks for the time being. (Infosys, SBI, ICICI etc are excluded)
These stocks are worth picking up in the present correction.
Volatility will be there in the market in coming days but we are in the midst of a very good Bull Run of an Emerging market. Theoretically one should avail the opportunity of this kind of corrections.
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